IPL 2020 title sponsorship value could see 50% dip this year, organisers up for challenge

The Indian Premier League 2020 (IPL 2020) season is currently without its title sponsor. The Board of Control for Cricket in India (BCCI) recently decided to discontinue the VIVO IPL deal, after the richest cricketing board in the world was subjected to severe backlash for its association with a Chinese smartphone company. After the VIVO IPL deal fallout, the BCCI is now actively in pursuit of new IPL sponsors for the much-awaited season.

Also Read | IPL 2020 To See Baba Ramdev's Patanjali Replacing VIVO IPL As IPL Sponsors?

IPL 2020 sponsorship: BCCI ready for decline in value after VIVO IPL deal fallout

In 2018, VIVO signed a five-edition IPL deal with the BCCI at a reported worth of ₹2,199 crore, which approximately comes up to ₹440 crore per annum. With the suspension of the VIVO deal, the BCCI is actively reaching out to existing IPL partners like Tata Motors and Dream11. Apart from IPL partners, the BCCI is reportedly reaching out to their own existing partners like PayTM (BCCI’s home series partner) and Byju's (Team India Jersey partner).

Earlier, brands like Amazon, Unacademy and MyCircle11 expressed their interest in becoming primary sponsors for IPL 2020. On Monday, August 10, Indian yoga guru Baba Ramdev's Patanjali confirmed their interest in putting in a bid. With IPL 2020 less than two months away, a report in News18 stated that BCCI would be happy to settle with their new IPL sponsors at even one-third the amount of the deal it had with VIVO. To back up the report, several experts and organisers are predicting that the IPL 2020 sponsorship value is set to take a dip by more than 50%.

Also Read | IPL 2020: BCCI Suspends VIVO IPL Deal Post India China Standoff

One of the sources close to the BCCI recently stated that the organisers are not too worried about the decline in value of IPL 2020 sponsorship. According to Exchange4media, the source expressed confidence that the board will find someone in time. While the IPL 2020 sponsorship deal value may not cross the ₹200 crore mark, the organisers and the management are up for a challenge to conduct IPL 2020 at less than 50 percent of the value.

IPL 2020 schedule announcement

On August 2, the governing council confirmed that they will be parting ways with VIVO for IPL 2020 sponsorship. Apart from the IPL 2020 sponsorship update, the governing council also confirmed the IPL 2020 schedule which is slated to be held between September 19 and November 10. Additionally, the upcoming season will be conducted in the United Arab Emirates (UAE) due to the rising number of coronavirus cases in India.

Also Read | IPL 2020 To Consider Amazon Or Unacademy As New IPL Sponsors after IPL VIVO deal?

Also Read | BCCI Snubs VIVO IPL Deal as IPL Sponsors Amid Severe Backlash, Confirms Suspension Of Sponsorship For IPL 2020

Image credits: IPLT20.com